Schroder Adveq seeks $1bn for new Europe fund

Schroder Adveq, the private equity arm of asset manager Schroders, has launched a new European strategy seeking to raise $1bn, regulatory filings show.

The new vehicle, Schroder Adveq Europe VIII, will focus on fund of funds investments in various sectors across Europe. Its main targets are small and mid-sized buyouts, including growth, turnaround and sector specialist opportunities.

Schroder Adveq declined to comment.

The firm has several different strategies, either investing in other private equity funds or alongside them. In Europe, it is also in the market for its second co-investment vehicle – Schroder Adveq Europe Direct II – seeking up to $550m, according to another SEC document.

As of June this year, the firm had $11.7bn of assets managed by its investment teams in Zurich, New York and Beijing, according to its website.

The firm, founded in 1997, has been a wholly-owned subsidiary of London-headquartered Schroders since 2007, when the firm acquired the Swiss buyout house Adveq. The deal marked the fund giant’s biggest foray into private equity since it spun off its Schroder Ventures arm in 1996.

Source: Private Equity News